The worst of the global banking crisis engulfing stock markets has come to an end following Lehman Brothers' bankruptcy, prominent financials sector fund manager Ken Murray explains.
Murray – the Blue Planet Worldwide Financials, European Financials and Financials Growth and Income investment trusts manager – says the weekend’s events on Wall Street mark the tail end of the credit crunch-inflicted bank decline. “The problem with the stockmarket is that it only deals with the present,” Murray says. “We have always been forward looking, and the outlook is very good. Now is not the time to panic, maybe it was time to panic a few months ago, but not now.” Murray says the Blue Planet team was not surprised by the major bank failures in the US. “Last year we actually ...
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